Bitcoin in El Salvador - Part 2 with Nayib Bukele
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\\u201cI don\\u2019t think it\\u2019s going to work, I\\u2019m sure it\\u2019s going to work. Because the fundamentals are there. We can have some bumps in the road like everything\\u2026 but, the fundamentals are the same. And it\\u2019s going to work because the philosophy of it is right. Just give it time. It\\u2019s going to work for El Salvador, it\\u2019s going to work for Bitcoin, it\\u2019s going to work for the world.\\u201d
\\u2014 Nayib Bukele
The full interview with President Nayib Bukele, undertaken days after the Bitcoin Law became effective on September 7th 2021, sections of which were included in my film \\u201cFollow The Money #1 - Bitcoin in El Salvador\\u201d. In this interview, we discuss motivation, opposition and legacy.
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A few days following Bitcoin being given legal status, I was granted an exclusive access interview with President Bukele for the purposes of my film \\u201cFollow The Money #1 - Bitcoin in El Salvador\\u201d. Following the release of the film, it is time to publish the full interview.
It has been over 8 months since El Salvador became the first country in the world to make Bitcoin legal tender. A lot has been written about El Salvador\\u2019s Bitcoin Law, and a lot has happened since. But what was it like to be at the centre of this unprecedented event? An event that could change not just El Salvador\\u2019s future, but also Bitcoin\\u2019s and the rest of the world.
The discussion covers President Bukele\\u2019s enthusiasm for what Bitcoin can do for his country and his people; the incredible timescale within which the law was passed (it was a mere 3 months from being enacted to becoming law); the strategy behind the country\\u2019s purchases of Bitcoin; internal and external opposition; and the plan behind the articles of the Bitcoin Law.
As background noise to all these changes is vocal concerns about authoritarian actions Bukele is taking; he has removed judges, influenced a change in the constitution to enable a potential second term, had troops enter parliament, and implemented stern policies aimed at reducing gang violence. The term \\u201cdictator\\u201d is banded around.
Nevertheless, he is an extremely popular president: he has an approval rating of 85%. Many citizens, sick of the years of violence and corruption, are pleased to finally see a decisive Salvadoran President. Could he become a beacon for the wider region? Could he be the leader of the Bitcoin age?
This episode\\u2019s sponsors:
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